How to Promote our New Product & Marketing Activities

Getting a new product out for customers to see and try out is the first step in selling that product successfully. Even the best product will do little good for the public if they do not know it exists. Therefore, we must utilize various marketing techniques to guarantee that the right audience knows about the product and that they receive the knowledge as effectively as possible. Fortunately, there are a number of fairly simple marketing opportunities for spreading the word and ensuring sales.

Step 1Offer promotional products. The majority of people love freebies, and creating an event at which we will give a sneak peak about our new products .In addition, a promotional event will create an opportunity for us to send out a press release about the event--as well as the product--and thus utilize the local media outlets, such as newspapers and news programs, for getting the word to the public.

Step 2Order printed promotional material that shares information about the products. Printed promotional material can range from simple flyers to more elaborate pamphlets that detail product specifications. In addition, business cards can be an excellent marketing tool. And we will be sure to hand out as many of these printed promotional items as possible, to reach the widest desired audience.

Step 3Creating sample sizes of products and offer them to those who can review the products and offer feedback or a positive response. Focus on sending the samples to those with credibility in the industry, such as professionals or experts whose feedback will have more effect on convincing customers to try the product. Step 4Collecting testimonials from customers who have used and enjoyed the product. Testimonials can be a powerful tool for convincing potential customers to take the plunge,

because they create the link between customers who trust the opinions of others like themselves. Suppose, for instance, that we have designed and are marketing a new range of hand lotion. Testimonials from customers can be powerful for persuading others to pass by more familiar names to use our product.

Step 5Hoarding and big banners advertisements on the roads so to grasp everyone’s attention and mind.That will give idea to the crowd what is new in the market and will come to gather more knowledge about the product.

Step 6Social media is also very good toold that will help in promotion as we can create a website where all our customers:existing and new will be able to receive all the updates and information about the new product with details,pictures and animation.

Step 7Door to door can also be a good option where our representatives will personally go to the maximum number of people and will make them aware about our new launch ,its prices ,availability ,etc.

Step 8Word of mouth also will help in abundance as this spreads very fast and creates buzz that will pick fire in the town about the new release and consumers will get attracted to it and will take chance of experiencing it.

RETAILER SUPPORTTRUST

 What really distinguishes trusting from distrusting relationships is the ability of the parties to make a leap of faith: they believe that each is interested in the other’s welfare and that neither will act without first considering the action’s impact on the other.

Because of shifts in competitive dynamics in recent years, many companies are growing increasingly concerned about the level of faith that their distribution channel partners have in them. 

INTERDEPENDENCE

In one study, Scheer, Steenkamp, and I separated more than 400 manufacturer-retailer relationships into four categories of differing levels of interdependence. On average, a company’s level of trust and its satisfaction

with the relationship (as measured on the 1-to-7 scale) were the highest and the level of perceived conflict was lowest in the relationships in which there was a high level of interdependence. If one thinks about it, this finding is logical. Effective relationships require both parties to make contributions. A hostage company often will try to reduce its dependence on its partner, an effort that only moves the relationship into the apathy quadrant. A hostage would gain much more by becoming a more valuable resource to the partner, thereby moving the relationship toward the high interdependence quadrant. Although people in many societies are socialized to prize independence, self-sufficiency, and unilateral control, no company is an island. Effective companies build networks based on interdependence.

Although I advocate relationships based on trust, I recognize that there are underlying tensions in any manufacturer-retailer relationship. The trust strategy works only with those partners that are willing to play the trust game. Furthermore, regardless of how deeply two partners trust each other, there will always be areas of difference because the two parties inevitably will have some goals that are different.

BILATERAL COMMUNICATION

The more powerful party is willing to engage in two-way communication with its partners. Marks & Spencer views an open and honest dialogue as a sign of a healthy relationship and encourages its suppliers to be proactive and frank in pointing out the company’s weaknesses. It has a number of procedures in place to encourage such communication. The CEO of Marks & Spencer meets his counterparts in suppliers’ organizations periodically. Regular suppliers are given a keycard to enter Marks & Spencer’s head offices, enabling them to drop by at any time to discuss issues. Although most make appointments first, having the card makes them feel that they are members of the Marks & Spencer family. In addition, Marks & Spencer organizes joint trips with its suppliers to trade shows and to visit foreign suppliers of raw materials. The trips enhance mutual understanding and help both parties identify new products that they could develop together.

Other companies have different practices to solicit input from partners. 

IMPARTIALITY

The more powerful party deals with channel partners equitably. Although it is impossible to treat all channel partners identically, it is important to give partners equitable opportunities. When Marks & Spencer has multiple manufacturers supplying a single product category, it attempts to ensure that everyone gets a fair share of the business. It also tries to minimize major changes in the volume of business awarded to suppliers from one year to the next. Any major shifts take place only over a period of years, so that

suppliers have time to adjust their production capacities and do not feel unfairly treated.